Arsenal have held talks with Real Zaragoza midfielder Ander Herrera.
The Sun says Gunners chief executive Ivan Gazidis met the midfielder's agents yesterday in London.
Zaragoza's debts mean they are considering a loan agreement where Arsenal pay 60 per cent of Herrera's salary until he becomes a free agent in 2013.
Arsene Wenger has been keen on the 20-year-old for six months and has had him watched twice in recent weeks.
Wenger also wants to have a replacement for Cesc Fabregas should he leave this summer.
Zaragoza president Agapito Iglesias said: "The interest in Herrera is true. If Arsenal want the kid they must pay his true value in the transfer market."
Herrera, also wanted by Fiorentina, declared: "I'll leave this business to my agents."